Seraphine shares crash to record low

SERAPHINE shares crashed to a low yesterday after a devastating profit warning wiped out twofifths of its value.

The maternity clothing brand, whose clothes were worn by the Duchess of Cambridge in all three of her pregnancies, said it is being hit by weakening demand and soaring costs. Shares fell 41.5pc, or 20.35p, to 28.65p. It has now lost 86.4pc of its value since floating on the London Stock Exchange in July last year. The company first saw shares crash in September after warning shipping delays were weighing on profits. Seraphine yesterday lowered expectations for the year again, citing the cost-of-living crisis and Russia’s invasion of Ukraine.

It said profits for the year to April 3 will be at least £3m, with sales of £44.1m. Previously it expected profits ‘significantly below’ £4.5m.